Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.
Business
Burj Khalifa to relaunch sunrise experience from At The Top restaurant
This and other experiences had been stopped due to the Covid-19 pandemic and the resulting lockdown The experience...
Egypt to soon start work on Saudi power link project
Egypt and Saudi Arabia will soon launch the African country’s electrical interconnection project This will increase grid capacity to 2,000...
Bank ABC and FAB arrange a $250-million 2-year Syndicated Term Loan Facility for BankDhofar
Bank ABC and FAB acted as joint coordinators, underwriters, initial mandated lead arrangers and book runners for a facility to...
Egypt lends $9.87 billion in loans to low-income customers to own homes
More than 350,000 customers benefited from the scheme launched seven years ago The National Bank of Egypt topped banks...
EGA begins planting 10,000 mangroves in Jebel Ali Wildlife Sanctuary
It has partnered with the UAE-based Storey Group’s One Billion Tree-Planting Initiative for this Mangroves, which grow in tidal...
SHUAA to launch next-gen Digital Wealth platform
The Digital Wealth Platform will open up SHUAA to a broader investor base The new digital wealth platform will integrate...
Explore Dubai’s homegrown produce scene
Dubai's vast food scene can be explored in local farms, specialty shops Focus on food security and regenerative farming...
Bahrain unveils $1.2-billion stimulus package for Covid-hit sectors
The king has issued a royal decree to extend a number of initiatives for three months Bahrain’s Crown Prince and...
SCT, Omantel ink pact for satellite services
Omantel will utilize satellite services to expand and enhance its mobile network backhauling The agreement will help Omantel gain satellite...
Al Maryah Community Bank appoints board of directors
The new board will steer the bank to be the leading digitalized financial services provider in the UAE Established in...
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Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.
Business
Company News
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Red Sea Global launches Saudi’s first seaplane company
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations -...
Business
Activists term IMF, World Bank ‘worst scam of the century’
Activists from developing nations belonging to a group called People's Alternative Global Tribunal organized themselves in the Moroccan city as...
Economy
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Economy
IMF slashes its growth forecast for China and eurozone
Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said...
- The IMF left its forecast for global real GDP growth in 2023 unchanged at 3.0% but cut its 2024 forecast to 2.9% from its July forecast of 3.0%.
- Its research revealed a 10% rise in oil prices would dampen global output by about 0.2% in the following year and boost global inflation by about 0.4%
Business
Samsung profits plunge
The company expects Q3 profits to fall nearly 80% to US$1.8bn.
- The company said in a statement that its operating profits for the July-September period will fall 77.9 percent to $1.8 billion
- Led by Samsung, South Korean chipmakers have enjoyed record profits in recent years as prices for their products soared
Economy
UAE to sign six more CEPAs by year end: Al Zeyoudi
Dubai, UAE--The UAE will sign six new comprehensive economic partnership agreements (CEPA) with South Korea, Thailand, Chile, Costa Rica, Colombia,...
- The minister made the remarks about the new CEPA agreements during a press conference to announce the UAE-Georgia CEPA
- He added that agreements will be signed with South Korea, Thailand, Chile, Costa Rica, Colombia, and Ukraine in the next few months